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International Accounting

Learning Outcomes - Understand the institutional and conceptual foundations of financial reporting under IFRS - Become familiar with most of the important accounting rules for publicly traded parent companies - Identify economic consequences and incentives in the context of applying these rules and managing earnings - Apply knowledge of the rules and incentives to analyze financial reporting choices and adjust the financials accordingly
Course code
Course type
BSc Course
Weekly Hours
HS 2022
Prof. Dr. Martin Glaum
Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.

This course is designed to familiarize you with today’s world of accounting under International Financial Reporting Standards (IFRS).

IFRS are developed by the International Accounting Standards Board (IASB) in London, and they are currently required or allowed as the basis for the financial reporting of companies in more than 100 countries around the globe. In the European Union, all stock-listed companies are required to prepare their consolidated financial statements in accordance with IFRS.

The objectives for this course are as follows:

  • To provide a systematic overview of financial reporting according to IFRS.
  • More specifically, to make you appreciate why IFRS are relevant in Europe and in other countries around the world, and to familiarize you with the institution behind IFRS accounting, the International Accounting Standards Board, IASB.
  • To introduce to you the Conceptual Framework that underlies IFRS. Financial accounting is based on informed judgments and estimates. Therefore, to prepare and to interpret IFRS financial statements competently one needs not only technical expertise, but also a solid and critical understanding of the objectives and the other concepts of IFRS.
  • To advance your knowledge and understanding of IFRS financial statements (Balance Sheet, Income Statement, Cash Flow Statement etc.).
  • To discuss the most important accounting topics and the relevant IFRS rules and requirements for recognition, measurement and disclosure that are of relevance to managers, analysts, investors, and other users of financial reporting information.
Date Time
Tuesday, 06.09.2022 15:30 - 18:45
Tuesday, 13.09.2022 15:30 - 18:45
Tuesday, 20.09.2022 15:30 - 18:45
Friday, 30.09.2022 08:00 - 11:15
Tuesday, 04.10.2022 15:30 - 18:45
Thursday, 06.10.2022 11:30 - 15:15
Accounting theory, Valuation, Agency theory
Alexander/Jorissen/Hoogendoorn/van Mourik/Kirwan (2020), International Financial Reporting and Analysis, 8th edition,Cengage Learning.Picker/Clark/Dunn/Kolitz/Livne/Loftus/van der Tas(2016), Applying International Financial Reporting Standards,4th edition, Wiley.Pellens/Fülbier/Gassen/Sellhorn, Internationale Rechnungslegung, 10. Aufl., 2017,Schäffer-Poeschel.Secondary literature:announced in class
The course consists of self-study and preparation, in-class lectures and discussions, and a final exam.
Exam 100%
Foundations of Financial Accounting (Grundlagen des Externen Rechnungswesens; Semester 1) Financial Statements (Jahresabschluss; Semester 1) Financial Statement Analysis (Jahresabschlussanalyse; Semester 2)
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